Peer2Peer Finance News
The UK's first peer-to-peer finance magazine for investors and the industry
  • Home
  • News
    • Personal Finance News
    • Industry News
    • SME News
    • Global News
  • Property
  • IFISA
    • IFISA Guide
  • Video
  • Open Banking
  • Cryptocurrency
  • Features
    • Joint Ventures and Promoted Content
  • Comment & Analysis
  • What is P2P?
  • Partners
  • Events
    • Past Events
  • P2P Power 50
    • Power 50 2020
    • Power 50 2019
    • Power 50 2018
    • Power 50 2017
  • Sign up to our e-newsletters
  • Magazine
  • Directory
  • Jobs
  • My Account
    • Manage Account
    • Change Password
    • Log In
    • Log Out
FOLK2FOLK - Roy Warren MD - head crop (col)
March 5 2021

Folk2Folk eyes £100m from institutions as it expands nationally

Kathryn Gaw Industry News, News, Top 3 Folk2Folk, Roy Warren

Folk2Folk is seeking to attract between £50m and £100m in institutional investment this year, as it shifts its lender base towards a hybrid model of both retail and institutional investors.

As a result, the company will no longer identify as a peer-to-peer lending platform, but will describe itself as a marketplace lender instead.

The lender has also announced its plans to expand into regions across the UK, not just in the South West of England.

However, Roy Warren (pictured), managing director of Folk2Folk, told Peer2Peer Finance News that it would not be abandoning its roots as a rural lender with retail funding.

Read more: Folk2Folk targets money from collapsed platforms

“We’re broadening our outlook really, and broadening the ability for us to grow and expand,” he said.

“We’ve no intention of abandoning our loyal retail customers and we will continue to have that rich amalgam of retail funds and institutional funding going forward.”

At the time of writing, Warren said that Folk2Folk is approximately 95 per cent funded by retail investors. It aims to shift this to a 60/40 split, with institutional funding representing the larger value.

The platform is in talks with a number of institutional investors at the moment, but Warren said that his priority is finding the right institution which matches Folk2Folk’s values.

“We’re not a desperate company,” he added. “We’re strong.

“We had an extremely successful year in a year of extreme adversity. We maintained our track record of no lender losses, and our arrears and bad debt position is very low.

Read more: Chancellor unveils recovery loan scheme

“That underlines the strength of our model and that should give lenders significant confidence.”

Despite the Covid-19 pandemic, Warren said that Folk2Folk has maintained a strong pipeline of loans, including many from return borrowers.

“We have a substantial pipeline over the next few months,” Warren revealed.

“During Covid we stayed open, stayed positive and it has yielded good results.”

Read more: Folk2Folk exceeds £400m in lending

FCA to publish initial supervisory work on consumer credit guidance Trade association calls for more FCA scrutiny

Related Posts

David Bradley Ward Ablrate

Industry News, News, Top 3

ASMX has traded almost £6m in the past 90 days

Bruce-Davis-Abundance-2-1024x585 (5)

Features, Top 3

The future is green: Exclusive interview with Abundance’s Bruce Davis

concept of economic recovery after the fall due to the covid 19 coronavirus pandemic. Financial graph 2021. Stock market chart. Businessman pointing graph. Return of growth after a fall

Industry News, News, Top 3

UK fintech investment hits record £2.5bn in first quarter

Popular posts:

  • Metro Bank starts offering RateSetter loans in its branches
  • Business Loan Network appoints administrators
  • Assetz Capital launches new bridging product
  • Funding Circle chief turns down £190,000 pay rise
  • PwC brings fintechs together for collaboration
  • Assetz Capital overhauls access accounts to boost liquidity
Back To Top
  • Home
  • Contact
  • About
  • Team
  • Advertising
  • Subscribe
  • Privacy
  • T&Cs
  • Disclaimer

Follow Us on Social Media

© Peer2Peer Finance News 2020
• Additional design by